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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
 The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous day. The capesize segment lost 62 points to reach 3,936, while the smaller panamax market gained 9 points to reach 3,900. Still, the irregularity observed during the previous weeks, when a panamax vessel could command higher fees than a comparative capesize has been eradicated after last week’s rally.
Still, in just one week the cape market has regained most of the ground lost since mid March, with the BCI closing on Friday at 3,936 points (+698 or +21.6% week on week) said Barry Rogliano Salles in a latest report. “This surge has been achieved on the back of short tonnage lists in the Atlantic and a rush for fixing before the Chinese/ Japanese holidays. However, the enthusiasm went a little down on Friday’s little downward correction. There was some increased period activity for one year duration, done in the mid 30s level, up from the low 30s of the previous weeks” said the report.
Summarizing the latest developments affecting the dry bulk market, BRS said that the project supported by the Australian Government to raise a so-called “resource rent tax” has come as a shock for the iron ore miners. Apart from the immediate reaction of the stock exchanges towards mining shares, the miners themselves have warned authorities that this tax (if implemented) could freeze a big share of their development projects.
“Analysts already predict that this tax could prevent some M&A initiatives to go further and decide some foreign investors to revise their plans. At the same time in China the CISA has called for a tax cut on domestic mining and a development of local supply. On the iron ore market, most players seem to be bearish about price evolution and wait-and-see attitude prevails for the moment. Lack of clear direction has also been the case for dry bulk shipping markets where despite a rate hike for Capes over the last 5 trading days, the week ended on a softer note.
Rumors have started circulating about a merger project by Glencore with Xstrata (of which they already won 34%) which could rocket the group to the top of the world commodity players’ ranking. No comments have so far been obtained from the two groups but according to analysts this project could be a key part of Glencore wider restructuring plan” said the shipbroker.
Still, in a recent report by N.Cotzias Shipping Group, we had noted that capes could very well be in for a run. “The fundamentals tell us that the Steel demand in China that leads the Iron]Ore Demand/Supply “tug of war” is there strong, and although China has reduced its iron ore imports from India due to an increase in excise duty and low grade imports into the country, overall trade has picked up, causing BDI to remain steadily in the range of 3k.
The past 2-3 weeks we have seen the Chinese Iron/Ore importers with the backing of the CISA, to be playing a nerve racking tactical cold war game with the giant Miners and Iron/Ore exporters. We strongly believe it is time that the flow returns to the normal levels and this "artificial" scarcity and shortage in the demand that was triggered partly as a boycott threat, cum pressure, will be resolved soon.
It is not a common secret after IMF released last week the latest word growth figures, that China's GDP growth estimate for 2010 is in double figures of 10%, and recent trade figures show that the improrts of Iron/Ore will exceed in volume those of 2009 by 7%” reaffirmed the report.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
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